Sunday, March 17, 2013

Wells Fargo Providing $55 Billion to Fund Women-Owned Businesses

Small businesses continue to face challenges in finding funding for their businesses. It is especially difficult for women. But a leading lender to women-owned and other small businesses has announced a program that will help. Between now and the year 2020, Wells Fargo has committed to lending a total of $55 billion in lending to help small businesses owned by women.

Wells Fargo is known for helping women in business get the capital and financial support they need to not only stay in business but also grow. For over 18 years, the company has loaned more than $38 billion to women-owned businesses.
Wells Fargo has a rich history of working with women business owners and providing them access to capital and financial services. Since announcing their commitment to women’s lending 18 years ago, Wells Fargo has provided more than $38 billion in capital to women business owners. The commitment, made in 1995, continues to support the growth in women-owned businesses. The National Women's Business Council reports that 30 percent of U.S. businesses are owned by women. In fact, women-owned businesses grew 20 percent from 2002 to 2007, according to statistics from the National Census Bureau.

Wells Fargo is a diversified financial services company serving the needs of communities with 9,000 offices throughout the U.S. In addition to loans and other financial services, the company invested more than $732.5 million in 2011 to support minority-, women-, and disadvantaged-owned businesses. Grants are available particularly for non-profit companies whose goals are in alignment with Wells Fargo values.